Shares of Palm Inc. hit a 52-week low on a double dose of analyst downgrades early this week. Three Wall street analysts issued gloomy reports for the company sending shares down to close around $8.45 Tuesday on overall sales and market penetration concerns.
The biggest blow came from longtime BOA/Merrill Lynch analyst Vivek Arya who remarked in a note to clients that Palm’s newest webOS phones have seen “sluggish” sales since debuting on Verizon.
